Suspension and Termination of Note Insurer's Rights. (a) During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Owners; provided that the Note Insurer shall be entitled to any distributions in reimbursement of the Reimbursement Amount, and the Note Insurer shall retain those rights under Section 9.2 hereof to consent to any supplement to this Indenture.
Appears in 14 contracts
Samples: Indenture (Imc Home Equity Loan Owner Trust 1997-8), Indenture (Imc Home Equity Loan Owner Trust 1998-7), Indenture (First Alliance Mortgage Loan Trust 1998-2)
Suspension and Termination of Note Insurer's Rights. (a) During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the OwnersNoteholders; provided that the Note Insurer shall be entitled to any distributions in reimbursement of the Note Insurer Reimbursement Amount, and the Note Insurer shall retain those rights under Section 9.2 9.02 hereof to consent to any supplement to this Indenture.
Appears in 2 contracts
Samples: Indenture (Ace Securities Corp Home Loan Trust 1999 a Asset Backed Note), Indenture (Aegis Asset Backed Securities Corp)
